Koeman was sacked by the Toffees on Monday after a dismal run of form that has seen the Merseyside club slip into the Premier League relegation zone, while qualification from the Europa League group stage looks unlikely.

Names such as Sean Dyche, Phil Neville and Ryan Giggs have been suggested to replace former Southampton boss Koeman, but Bellew has other ideas.

Boxer Bellew, a well-known Everton fan, wrote in his Metro column that the Toffees should splash out £250,000 a week on Simeone and offer the Argentinian manager a huge £300million war chest of owner Farhad Moshiri's money.

"Why not go and break the bank and get Diego Simeone? Offer him £250,000 a week and give him a £300million war chest," Bellew said. "Then letís see how serious we really are. Simeone has completed his process at Atletico Madrid.

"He needs a new project and whatís better than Everton in the Premier League? Big fan base, a team with money. Iím not too sure who is available at the moment, but Iím desperate to see what happens now.

Simeone, 47, has gained major success at Atletico during his six-year spell as manager, most notably seeing off competition from Real Madrid and Barcelona to hold aloft the 2013-14 La Liga trophy.

Two Champions League finals and a Europa League winners' medal shows just what he is capable of, but it remains to be seen if Everton can lure him to Merseyside with his contract set to expire in June 2020.

Koeman was sacked by the Toffees on Monday after a dismal run of form that has seen the Merseyside club slip into the Premier League relegation zone, while qualification from the Europa League group stage looks unlikely.

Names such as Sean Dyche, Phil Neville and Ryan Giggs have been suggested to replace former Southampton boss Koeman, but Bellew has other ideas.

Boxer Bellew, a well-known Everton fan, wrote in his Metro column that the Toffees should splash out £250,000 a week on Simeone and offer the Argentinian manager a huge £300million war chest of owner Farhad Moshiri's money.

"Why not go and break the bank and get Diego Simeone? Offer him £250,000 a week and give him a £300million war chest," Bellew said. "Then letís see how serious we really are. Simeone has completed his process at Atletico Madrid.

"He needs a new project and whatís better than Everton in the Premier League? Big fan base, a team with money. Iím not too sure who is available at the moment, but Iím desperate to see what happens now.

Simeone, 47, has gained major success at Atletico during his six-year spell as manager, most notably seeing off competition from Real Madrid and Barcelona to hold aloft the 2013-14 La Liga trophy.

Two Champions League finals and a Europa League winners' medal shows just what he is capable of, but it remains to be seen if Everton can lure him to Merseyside with his contract set to expire in June 2020.

Did someone pay bellow to write this nonsense. Why not 500k a week and a billion for players?? Where's bellows ambition

Likes...

Our next manager probably isn't going to be someone with a hugely impressive CV. We're in a worse situation than when we appointed Koeman and top manager's will maybe pass us over.

I don't think it's lacking in ambition if we give it to Unsworth until the end of the season. Sometimes you stumble upon a formula which maybe shouldn't work but does for whatever reason. The next week or so might give us an indication if this might be so.